News Corp. to End London Stock Exchange Listing
The delisting will coincide with the company's split as only a small percentage of its global trading volume has been handled in the British capital.
LONDON -- Rupert Murdoch’s News Corp. said Thursday that its stock will stop trading on the London Stock Exchange when the conglomerate splits into two in late June.
The move isn't a major surprise as the company had only a secondary listing in the British capital, and the London Stock Exchange handles less than 1 percent of News Corp.'s global stock trading volume.
News Corp. said it will end its stock listing in London on June 28 when the company is set to split into entertainment business 21st Century Fox and the new News Corp., which will combine its publishing operations and entertainment units in Australia.
News Corp.’s stock has been on the rise all year, with some analysts boosting their price targets earlier this week following an investor day for the new News Corp.
On Wednesday, the company's class A stock closed at $32.80 after hitting a 52-week high of $34.04 earlier this month.